Gasoline Prices at Gas Stations Rise for 13 Consecutive Weeks... Nationwide Average 1,463.2 Won

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] Gasoline prices at gas stations nationwide have risen for 13 consecutive weeks.

According to the Korea National Oil Corporation's oil price information service OPINET on the 20th, the average selling price of gasoline at gas stations nationwide in the third week of February (2.15?18) was 1,463.2 KRW per liter, up 7.3 KRW from the previous week.

Domestic gasoline prices have been rising for 13 consecutive weeks since the end of November last year. The weekly increase has gradually grown from 1.5 KRW in the first week of this month to 3.9 KRW in the second week and 7.3 KRW in the third week.

Seoul, the region with the highest prices nationwide, recorded 1,548.4 KRW per liter, up 12.0 KRW from the previous week, which is 85.2 KRW more expensive than the national average. Daegu, the region with the lowest prices, was 1,440.2 KRW per liter, up 4.8 KRW from the previous week, 23.0 KRW cheaper than the national average.

By brand, GS Caltex gas stations were the most expensive with an average of 1,470.6 KRW per liter, while budget gas stations were the cheapest at 1,432.3 KRW per liter. The nationwide average diesel price at gas stations also rose by 7.1 KRW to 1,263.2 KRW per liter compared to the previous week.

International oil prices continued their upward trend for three consecutive weeks. The average price of Dubai crude oil, the benchmark for crude oil imported into Korea, in the third week of February rose by 2.4 dollars per barrel from the previous week to 62.7 dollars.

The Korea National Oil Corporation analyzed, "International oil prices are on the rise due to increased retail sales from the implementation of the US economic stimulus package, a decrease in US crude oil inventories, and instability in the Middle East situation."

This content was produced with the assistance of AI translation services.